Steemit Crypto Academy Contest - S1W3 / Review Blockchain Through the Concept | by @ameen12

Hi,

Here as you know the steemit crypto academy contest the week 3 is start and i am also take part in this wonderful contest and write my contest post in steemit crypto academy.This is my first post in this wonderful community and also part in steemit engagement challenges.

^{Picture is make by @ameen12}

Here today i participate in this wonderful contest because it's theme and topic is really good that is Review Blockchain Through the Concept that cause i take participate.

Question No 01. Tell us About Your favorite concepts or term is related to blockchain, try to be a explanatory and make it sure to give in your opinion.

Distributed ledger technology DLT in Blockchain

Many of people on the crypto market is also think about that the blockchain technology and
the distributed ledger technology (DLT) are one and a same thing but in my opinion they are so different and change from each other. The Blockchain technology is built using the some different technologies, and they also distributed ledger technology is one of them, if we say it is very & most important then I can not be wrong because A distributed ledger technology is is also as a type of database that is encoded and the distributed, anacting as the ledger that a records the transactions across to a system and networks. And this is a also same technology that is Bitcoin BTC the cryptocurrency uses.

In the simple wy to understand, If think you work in a small shop and sell some technical products there. One day a person come into your shop and bought some technical products on your shop and paid you money. here if you have a ledger where you record a all of that technical products. So then you can also have a recorded transactions that is made it.

The Distributed Ledger Technology the short form DLT has played the significant part in building the Blockchains technology. That is technology has helped to make decentralized apps on Blockchain, like as the "dapps" and the Distributed ledger technology (DLT) is also now as becoming the underlying the layer of the futures of the internet technology..."

^{Distributed ledger technology (DLT) source}

And here through this technology all the transactions like as Peer-to-Peer Networks, Contract, Links the blocks, and A Cryptography methods is also used in the distributed ledger technology DLT. And here in this technology the every record is saved in the distributed ledger technology has been a unique the cryptographic signature which is makes it more secure and save.

The distributed ledger technology DLT is alao can be spread from to the whole in world, and it's can be reorganized and held by a some different parties in the some different places. And the most famous example of a distributed ledger technology (DLT) is Google (Docs) , such as if we shareit with aome peoples, it gets a distributed among the people's and did not not transferred a fully. They do not you think that is the Blockchain technology might not be a famous or secure & have a save and the transparent transactions systems without this distributed ledger technology.

Her if we can write in simple words, then i can be saying that is the data of Transactions that is the distributed to all nodes on in network. And here the records of ledger it is always permanently made block, and those is multiple in blocks that is make a whole blockchain as only one block taht is connected to other block, through out a chains and that a chain is also called Nodes.

Question No 02. Why do you think that ot is important in Blockchain?

The distributed ledger technology DLT is a most important part of a Blockchain technology, And Why do I think ? Because it's have a many good and important benefits for the Blockchain technology here now you can see in the below:

The Security: The Blockchain is works on the Distributed ledger technology DLT, then the transactions are entered into database after a cryptographic signature and after the signing to the contracts, which is also called Hash or hashing.

It's Synchronized: I also know about that is the distributed ledger technology the DLT can be held and reorganized by a some different peoples and on some different places, so then if all the participants can use the identical copies, and take a any editing will be bethened to the participant. So now to make the blockchain technology is accurate, the distributed ledger technology DLT has a technology to be a Synchronized.

No Third Party:In the Distributed ledger technology (DLT) ino have any third-party to involvement in the database, like as someone can not be alter the data or transactions and until it is distributed to a someone, so it also make it a highly transparent as well see in the below.

Highly transparent: A Distributed ledger technology DLT is also a highly transparent as the informations in the database are can easily be viewed by anyone. Ethereum and the Ripple are the most famous examples of the blockchain technology that have used the Distributed ledger technology DLT.

Question No 03. Do you thinking that the extension of the blockchain is would be possible without this concept is there an alternative or in similar term ?

There are the alternatives for distributed ledger technology like as a Hashgraph hashing, The Lota Tangle and the R3 Corda. And they are also all the work on the as alternative data structure that is also used for maintaining a ledger. But the honestly, I do not thinking about that is the existence of the Blockchain technology would have been to possible without this wonderful concept or ledger technology.

Even as you can also know the Bitcoin is the most famous cryptocurrency was made using the Distributed Ledger Technology in Blockchain technology. So, that is a takes us to the conclusion that is not a distributed ledger technology means no bitcoin.

But of inam sure, they are many intelligents peoples on the world or our earth, maybe someone else would be have ro made something else or maybe made a something are good and it is might to get a replaced soon. But here till now the, I think the distributed ledger technology is the most important technology for the blockchain technology.

Question No 04. Do you think it is possible to improve the term in some way ? Explain us how ?

The Distributed ledger technology the short form is DLT has been played the very important role in the Blockchain technology journey. But here it is still, there have nothing in the world that is 100% of perfect. So, the some things that i think & needs a improvement is firstly in the speed of transactions , as you also know I guess there should be a some mechanisms that is should be used to minimize the noise & increase the transactions speed. There is a also the threat of a 51% Attacks or hacks, That is the most enduring concern for the likers and uses of the distributed ledger technology. So there is a should be some mechanism to save themselves from this attacks or hacks or scams.

And here with this wonderful technology that is called distributed ledger technology in short as DLT, the sun has to come to dusk and here this is the little introduction about the distributed ledger technology that is is ended. I hope today post was very helpful for everyone, and all guys of our community will be learned a lot from my post and now the good bye and the take care and keep attached with crypto academy.

Regards,
@ameen12